CHAPTER 3

CHAPTER 3

1. STEPS IN THE DECISION-MAKING PROCESS

   • 1. Formulation of the problem.
     • 2. Outlining a goal and outcome.
       • 3. Generation of alternative courses of action.
         • 4. Analysis and evaluation of alternatives.
           • 5. Election of one alternative.
             • 6. Implementation of the action.
               • 7. Evaluation of the outcome.
   • Deliberation, decision and execution.
     • the outcome.

2. FOUR INTERRELATED DIMENSIONS

   • Instrumental Dimension
     • Business results sought in performing an action (effectiveness and efficiency)
   • Relational Dimension
     • Future relations with the people affected by the action (stakeholders)
   • Internal Dimension
     • Learning produced by the internal effects of the decision a the subsequent action.
   • Ethical Dimension
     • Ethical evaluation of the alternatives by the decision-maker, and its influence on the intentionality of the agent in performing an action.
     • Can have a positive or negative influence on the relational dimension.

3. HOLISTIC APPROACH

   • Tries to make optimal decisions considering all relevant dimensions and using a multi-criteria approach.
   • All dimension can have an important weight in determining the optimal alternative.
   • Practical wisdom plays a crucial role.

4. MANAGER'S MORAL CONSCIENCE

   • Practical rationality
     • Particular situation
       • Moral Judgement
     • Ethical Knowledge
     • Practical Wisdom

5. MAKING SOUND MORAL JUDGEMENTS

   • Ethical theories and moral reasoning
     • Codes of conduct
     • Utilitarianism
     • Virtue ethics
   • Triple Font of Morality Theory
     • Intention: morality of purpose or goal for which the decision is taken.
     • Action chosen: morality of the action chosen as a means to the end.
     • Circumstances: morality of relevant consequent circumstances.
     • A decision is morally good if, and only if, all of these elements are good.
     • The intention and the object chosen are two aspects of the single voluntary act of making a decision.
     • Good end does not justify morally bad means.
   • Determining the morality of a decision
     • Intention
       • For an intention to be good it must be directed toward a good end.
     • Action chosen (object)
       • Ethically unacceptable for one or more of the following reasons:
         • The action is radically contrary to human dignity or the common good.
         • The action is not allowed by a fair law, and consequently is illegal.
         • The action is wrong in some specific circumstances
         • The action is unjust because it lacks equity or due proportion
     • Relevant consequences and situational factors